Honorable Calvin K.Y. Say

Speaker, House of Representatives

Twenty-First State Legislature

Regular Session of 2001

State of Hawaii

Sir:

Your Committee on Consumer Protection and Commerce, to which was referred H.B. No. 240 entitled:

begs leave to report as follows:

The purpose of this bill is to make Act 146, Session Laws of Hawaii (SLH) 1999, the Check Cashing Act, permanent by repealing its July 1, 2001, sunset date.

Testimony in support of this measure was received from Cash in Advance, Inc., Check'n Go, Inc., and Ranken, Drewyer, & Ranken. The Department of Commerce and Consumer Affairs commented on the bill.

Your Committee finds that Act 146, SLH 1999, was scheduled to sunset on July 1, 2001. Your Committee further finds that authorizing Hawaii businesses to accept postdated checks in exchange for an immediate cash loan and regulating the conduct of this nationally based business in Hawaii has benefited public interests and should continue.

Your Committee has made technical, nonsubstantive amendments to this bill to conform with drafting conventions.

As affirmed by the record of votes of the members of your Committee on Consumer Protection and Commerce that is attached to this report, your Committee is in accord with the intent and purpose of H.B. No. 240, as amended herein, and recommends that it pass Second Reading in the form attached hereto as H.B. No. 240, H.D. 1, and be placed on the calendar for Third Reading.